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CAW Economist and Author Jim Stanford to Speak at Western Tomorrow

LONDON, ON, May 11 /CNW/ - CAW Economist and renowned author Jim Stanford
will give a guest lecture at the University of Western Ontario tomorrow
afternoon at the invitation of UWO Staff Association, addressing the current
global financial crisis. His presentation will centre on the impact of the
crisis here in Canada and the unique challenges it has created for
universities and other institutions which rely upon stock market returns to
pay their bills.
"As a society, we have invested far too much attention and far too many
resources in speculative financial assets and institutions. We forgot that
real wealth comes from work and production, not from speculation," said
Stanford.
"Even our social programs and educational institutions became dependent
on the unpredictable swings of the paper markets. The financial hangover we
are facing today - everything from the meltdown of pension funds and RRSPs, to
the failure of university endowment funds - is a wake-up call. We should find
other, more reliable ways to fund the things we need in society, including
higher education, rather than relying on the stock markets."
Stanford will also discuss why the recent bounce in the stock markets (up
over 30% since March) provides no guarantee whatsoever that the "worst is
over."
The event is sponsored by University of Western Ontario Staff
Association.
Jim Stanford Guest Lecture
Tomorrow - Tuesday, May 12, 2009 at 4:30 p.m.
Social Science Centre, Room 2050
University of Western Ontario